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Housing loans worth $757mn disbursed to Abu Dhabi citizens

Move is said to reflect the UAE leadership’s keenness to maintain social stability and ensure decent living standards for citizens

HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Council of Abu Dhabi has ordered the dispensation of housing loans worth $757 million to 1,976 citizens in the emirate. Retired, low-income citizens are exempt from paying back the loans.

The move is in line with directives from President His Highness Sheikh Khalifa bin Zayed Al Nahyan as a special gesture on the occasion of Eid Al Adha, according to a report by WAM.

Under this arrangement, the second batch of housing loans for 1,500 citizens has been approved along with the loan payment exemption for 476 retired low-income citizens.

The gesture is said to reflect the keenness of the UAE’s leadership to maintain social stability and ensure decent living standards for citizens, as well as reinforce their role in the country’s development. The royal directive is also said to demonstrate the keenness of Sheikh Mohamed bin Zayed to promote the Abu Dhabi government accelerator programme, Ghadan 21, and double housing loans for UAE citizens.

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